tl;dr
Abra has launched Abra Treasury, a service for corporates looking to hold crypto on their balance sheet as a reserve asset. The service, operated by Abra Capital Management, offers custody, trading, borrowing, and yield services through separately managed accounts. It aims to provide solutions for c...
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Abra has launched Abra Treasury, a service for corporates looking to hold crypto on their balance sheet as a reserve asset. The service, operated by Abra Capital Management, offers custody, trading, borrowing, and yield services through separately managed accounts. It aims to provide solutions for corporates, family offices, and non-profits in the current uncertain macro environment.
Additionally, Abra and its CEO settled with 25 state financial regulators for operating its mobile application without proper licenses, agreeing to return up to $82.1 million in crypto to U.S. customers in the settling states.
Abra Treasury offers:
- Custody, trading, borrowing, and yield services through separately managed accounts for corporates
- Asset treasury management solutions for corporates, family offices, and non-profits
- Clients can hold their crypto in separately managed accounts
The current uncertain macro environment has led some corporate treasurers to consider adding bitcoin (BTC) as a reserve asset to their balance sheets. MicroStrategy (MSTR) is the largest corporate holder of bitcoin, with a stash of 226,331 tokens.
Marissa Kim, head of asset management at Abra Capital Management, stated, "We are increasingly seeing clients that are business owners and CEOs of small to medium-sized businesses (SMBs), in particular real estate companies, with interest in buying BTC for their treasury or borrowing against BTC to finance business needs or real estate projects, which we did not see last cycle."
Under the settlement agreement, Abra will return up to $82.1 million in crypto to U.S. customers in the settling states.
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Industry: MANUFACTURING, SEMICONDUCTORS & RELATED DEVICES
NAICS Code: 85922000
Dividend Yield: None
Market Cap: None
EPS: -0.16
PE Ratio: 1.918
EBITDA: -0.127
Volume: 106582000
52-Week High: 4.88
52-Week Low: 3.42
Price to Sales: 0.148
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During the period, C3 reported a trading volume of 310,582,000 with a closing stock price of $29.35. The stock did not pay any dividends, and its dividend yield stood at 0.196.
More about MicroStrategy Incorporated
MicroStrategy Incorporated Summary MicroStrategy Incorporated
MicroStrategy Incorporated provides global business analysis software and services. The company is headquartered in Tysons Corner, Virginia.
Industry
Technology
Sector
Services-Packaged Software
Market Cap
$24,432,912,000
Dividend Yield
None
EPS
-10.61
P/E Ratio
32.62
Profit Margin
-0.174
Revenue
$489,592,000
Net Income
$1,959.82
Debt to Equity
-0.775
Current Ratio
-0.055